Competition Authorities Approve DNV GL Merger

MarineLink.com
Wednesday, September 11, 2013
Henrik O. Madsen, DNV GL Group

The merger between DNV and GL is now approved. The new company - DNV GL - will be operational from September 12, 2013.

DNV GL will be the world’s largest ship and offshore classification society to the maritime industry, a leading provider of technical assurance and risk management services to the oil and gas industry and a leading expert in wind and power transmission and distribution. DNV GL also takes the position as one of the top three management system certification bodies in the world.

The competition authorities in South Korea, the U.S., the EU and China have cleared the merger between the two well-regarded companies, both of which will soon celebrate 150 years of independent operations. The new company, formally called DNV GL Group, will comprise 17,000 employees across 300 sites in more than 100 countries, and have revenues of €2,500 million per year.

“It is with great pride that we can now inform that this vision-driven merger for growth has been cleared by the competition authorities in all four required jurisdictions. The merging companies both represent leading market positions, complementary commercial positions and an acknowledged reputation for advanced technology and high quality and integrity,” said Henrik O. Madsen, Group CEO of DNV GL.

A global game changer

Madsen argues that this first consolidation of two classification societies will be a global game changer. “DNV GL will be uniquely positioned to offer a broader set of products and services, more in-depth expertise and a denser global network of sites second to none. And importantly, there is a strong commitment by both DNV and GL to the merged company continuing to invest heavily in technology, research and innovation.”

Advancing safety and sustainability

An increasingly complex risk environment for customers is expected to drive demand for the new company’s technology and risk management services. “In today’s risk-sensitive environment, a company’s failure to manage risk properly may lead to adverse events, loss of life, damage to the environment or critical business consequences, putting trust and credibility at risk. I firmly believe that DNV GL will be in a stronger position to help companies manage their challenges in the new risk reality and enable them to advance the safety and sustainability of their operations,” emphasizes Madsen.

Need for independent expertise

While companies’ compliance with standards and pursuit of safety and protection of the environment has undoubtedly improved over recent years, Madsen believes there is definitely room for improvements.

“Standards are improving, but there is a lack of international governance. The industry needs strong, independent players that promote greater openness, consistency and effectiveness in the profession and push the development of new adequate measures and standards.”

Madsen continued, “For our part, DNV GL, must take an active stance and show that we have qualified opinions on technical, operational, environmental and risk management issues. We aim to deliver technical solutions that are practical and in the best interests of our customers and other stakeholders.”

One operation

The past six months laid emphasis on integration planning so that the new company is ready to start operating as one company with effect from 12 September. This means that the former DNV and GL customers will now benefit from a broader service capability, while maintaining the same contact points in DNV and GL as the integration moves forward. All certificates and approvals from DNV and GL will remain valid. In the coming months, DNV GL will accelerate integration processes to ensure consistent and continuous service operations, avoiding any business interruption for customers.

Global impact

“We look forward to offering the best capabilities of our respective organizations to further advance the industries we serve and make a global impact for a safe and sustainable future – a safer, smarter and greener future for our customers and society at large,” concluded Henrik O. Madsen.

dnv.com/merger
 

Maritime Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter May 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Iranian Port Deal: Modi's Masterstroke

Indian Prime Minister Narendra Modi signed a deal to develop the Chabahar port in Iran for which India will extend $500 million. The historic pact makes Chabahar

Winners of Ferry Design Contest Selected

Winners of International Student Design Competition for a Safe Affordable Ferry to be revealed at the Ferry Safety and Technology Conference   Dr. Roberta Weisbrod,

Maritime Consolidation: Palfinger Aims to Acquire Harding

As maritime markets continue to struggle, merger and acquisition activity should heat up. Today, Austria's Palfinger Group announced that it intends to acquire

Marine Power

G7 Meeting to Tackle Sea Row in Asia Pacific

Group of Seven (G7) leaders will call for respect for the rule of law and peaceful resolution to conflicts in a joint statement to be issued Friday at the end of their two-day summit,

ABB Saves 700,000 tons Fuel for Marine Vessels

ABB’s environmental friendly Azipod propulsion system brings greater fuel efficiency to diverse shipping segments ABB today announced the total fuel savings

First Cruise Company Fined under Australia’s New Fuel Rules

Australia’s NSW Environment Protection Authority (EPA) has fined Carnival PLC $15,000 after one of its P&O Cruises ships, the Pacific Jewel, breached new low sulfur fuel regulations in Sydney Harbour.

News

Iranian Port Deal: Modi's Masterstroke

Indian Prime Minister Narendra Modi signed a deal to develop the Chabahar port in Iran for which India will extend $500 million. The historic pact makes Chabahar

Winners of Ferry Design Contest Selected

Winners of International Student Design Competition for a Safe Affordable Ferry to be revealed at the Ferry Safety and Technology Conference   Dr. Roberta Weisbrod,

Maritime Consolidation: Palfinger Aims to Acquire Harding

As maritime markets continue to struggle, merger and acquisition activity should heat up. Today, Austria's Palfinger Group announced that it intends to acquire

Classification Societies

Maritime Future Summit: Digital Shipping

Autonomous ships, smart on-board systems: At the Maritime Future Summit on September 5, industry leaders will discuss the future of shipping. For the first time

ABS: Sharpening its Global View

The American Bureau of Shipping (ABS), already one of the world’s well-regarded classification societies, recently restructured its ranks to meet the perpetually evolving needs of its customers.

KR to Deliver Engineering, Ship Surveys in Iran

Korean Register (KR) – an IACS member classification society - has signed a Memorandum of Agreement to establish a joint venture company with the Iranian Classification Society (ICS).

Consulting

IMO to Prevent Cyber-attacks

At a meeting of the IMO's Maritime Safety Committee (MSC), it was recognised that ships may also be exposed to so-called cyber-attacks. Now, the IMO wants to

APL Reduces Carbon Emissions by 45.5%

APL today announced that it has reduced its fleet carbon dioxide emissions by 45.5% in 2015, compared to its emissions level in 2009. This achievement marks APL’s

Rising VLGCs fleet Impact LPG Freight Rates

LPG shipping freight rates are forecast to deteriorate further through 2016 as a result of the fast rising fleet of Very Large Gas Carriers (VLGCs) which has already

Offshore Energy

Subsea Forestry: Separating The Wood From The Trees…

Over the course of the last 20 years, oil and gas companies have cultivated a vast metallic forest beneath the world’s oceans, consisting now of some 5,800 installed subsea trees,

Olympic Pact with Canyon Offshore

Norwegian offshore shipping company Olympic Shipping has entered into a frame agreement with Canyon Offshore for the joint marketing and subsequent operation of

Maritime Consolidation: Palfinger Aims to Acquire Harding

As maritime markets continue to struggle, merger and acquisition activity should heat up. Today, Austria's Palfinger Group announced that it intends to acquire

 
 
Maritime Contracts Maritime Security Maritime Standards Offshore Oil Pipelines Pod Propulsion Port Authority Ship Electronics Ship Simulators Sonar
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1510 sec (7 req/sec)